Former U.S. Treasury Secretary Steven Mnuchin put up for sale a luxury duplex co-op at 740 Park Avenue in New York, according to a report by real estate broker Olshan Realty, which showed the property split about 21 percent to sell last week.
The property, a five-bedroom home, has been listed for sale since September 2018, with the latest listing price of $25.75 million, a cut of more than 20 percent from the initial $32.5 million, the foreign news agency reported.
Olshan Realty President Donna Olshan noted that the deal was the most expensive co-op sold in Manhattan in the past 18 months, although the final price will not be known until the transaction is completed and registered.
Mnuchin declined to comment on the incident.
The analysis noted that luxury co-ops in New York are a symbol of prestige but have been harder to find buyers for in recent years, as new high-end apartments are popping up in Manhattan with more amenities, better views, and fewer rules and restrictions on daily life.
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